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November 27, 2013
Stocks on Wall Street were higher at midday following a raft of economic data, some of which was accelerated to be reported today due to markets being closed tomorrow. Weekly jobless claims came in below forecasts, while the leading economic indicators, the University of Michigan consumer confidence reading, and the Chicago purchasing managerís report were all better than expected as well. The market has been drifting for the last two hours despite the solid reports, as the volume remains light ahead of the Thanksgiving holiday. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 10K to 316K for the week ended November 23, from a revised 326K the week before. Durable goods orders dropped 2.0% in October, which was generally in-line with economists' forecast. Excluding transportation, orders dipped 0.1%., versus an expected increase of 0.5%. The Chicago Fed national activity index fell to -0.18 in October from a September figure that was revised to 0.18 from 0.14. The Chicago purchasing mangers' index for November fell to 63.0, versus expectations for it to decline more sharply to 60.0. The final Reuters/University of Michigan consumer sentiment reading for November came in at 75.1, versus expectations for a 73.1 figure. The leading economic indicators for October rose 0.2%, versus expectations for an increase of 0.1% for the month. In Europe, a forward-looking consumer sentiment indicator in Germany rose to 7.4 points in December from an upwardly revised 7.1 points in November, beating economists' forecasts and hitting its highest level in over six years. COMPANY NEWS: Hewlett-Packard (HPQ) shares advanced 7% after the company reported fourth quarter profits that were slightly higher than expected and revenue that came in significantly above the consensus forecast. Analyst commentary after its report was mixed, with Evercore upgrading the stock and Citigroup making positive comments, while Goldman and Cantor were more cautious... CVS Caremark (CVS) announced a deal to acquire Coram, the specialty infusion services and enteral nutrition business unit of Apria Healthcare, for about $2.1B. CVS said that including one-time costs the transaction is expected to have an immaterial impact on its financial results in 2014 and is expected to add 3c-5c cents to adjusted earnings per share in 2015. CVS shares gained 1% following the deal announcement, while shares of BioScrip (BIOS), which also provides home infusion services, jumped 19% after the deal for Coram... AMR Corporation (AAMRQ), the parent of American Airlines, and US Airways (LCC) had their antitrust settlement agreement approved by a bankruptcy court. As a result, the company estimated that all outstanding securities of AMR, including the common stock trading under the symbol "AAMRQ," and the common stock of US Airways, trading under the symbol "LCC," will cease trade on Dec. 6, to be replaced on Dec. 9 by the common stock of the renamed "American Airlines Group," trading under the symbol "AAL." MAJOR MOVERS: Among the notable gainers was Foster Wheeler (FWLT), which rose 6% after the London Times said Amec is "stalking" Foster Wheeler with hopes of acquiring its American rival. Among the noteworthy losers following their earnings reports were teen retailer Tilly's (TLYS), which plunged 24%, and network technology company Infoblox (BLOX), which dropped 23%. INDEXES: Near noon, the Dow was up 20.77, or 0.13%, to 16,093.57; the Nasdaq was up 18.04, or 0.45%, to 4,035.79; and the S&P 500 was up 3.41, or 0.19%, to 1,806.16.
Check below for free stories on HPQ;CVS;BIOS;AAMRQ;LCC;AAL;FWLT;BLOX;TLYS the last two weeks.
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April 8, 2014
13:24 EDTCVSCVS confirms final SEC settlement, says will not be required to restate earnings
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13:08 EDTCVSCVS Caremark pays $20M to settle SEC accounting charges
The SEC announced that it charged CVS Caremark "with misleading investors about significant financial setbacks and using improper accounting that artificially boosted its financial performance." CVS has agreed to pay $20M to settle the charges, the agency said. Reference Link
09:09 EDTBIOSOn The Fly: Pre-market Movers
HIGHER: BioScrip (BIOS), up 6.7% after stock was named as a stock pick and a potential takeover target by Oscar Schafer while speaking on CNBC... Nokia (NOK), up 5% after deal to sell substantially all of its Devices & Services business to Microsoft (MSFT) receives regulatory approval in China... (CTRP), up 4.6% after Bloomberg said, citing sources, that the company is in talks with Baidu-controlled (BIDU) Qunar (QUNR) about a partnership or a potential merger... Plug Power (PLUG), up 4.6% after CEO discusses plan to expand fuel cells to trucks in interview... FireEye (FEYE), up 2.5% following upgrade at Wedbush... Twitter (TWTR), up 2% following initiation of coverage with a Buy rating at at Janney Capital... Nike (NKE), up 1.75% after upgraded at Stifel. LOWER: Gigamon (GIMO), down 23% after lowering revenue outlook, shares downgraded at Pacific Crest... LivePerson (LPSN), down 3% after announcing resignation of EVP, Worldside Sales, shares downgraded at Benchmark... Cisco (CSCO), down 0.5% following downgrade to Hold from Buy at Wunderlich.
09:00 EDTBIOSBioScrip rises 6.6%
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08:04 EDTAALAmerican Airlines sees Q1 operating margin 5%-7%
The company expects Q1 2014 PRASM to be up approximately 2.5%-3.5% versus the same period last year.
08:03 EDTAALAmerican Airlines reports March RPMs up 0.9% YoY
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07:40 EDTBIOSBioScrip, InterXion, RealD mentioned as stock picks by Oscar Schafer
Pharmacy and home health services provider BioScrip (BIOS) was named as a stock pick and a potential takeover target by Oscar Schafer, managing partner of O.S.S. Capital Management and chairman of Rivulet Capital, while speaking on CNBC. Schafer also mentioned data center service provider InterXion (INXN) and 3D technology licensor RealD (RLD) as stock picks during his appearance on the network.
April 7, 2014
10:32 EDTAALAirline stocks rally after Goldman ups sector rating
Airline stocks are rising in a down market after Goldman Sachs raised its rating on the sector to Attractive from Neutral. WHAT'S NEW: Although airline stocks have already outperformed the market, it's not too late for investors to get involved in the sector, Goldman wrote in a note to investors earlier today. Not yet priced into the stock are higher ticket prices, more crowded planes, and a recovering U.S. consumer, according to the firm. It initiated coverage of American Airlines (AAL) with a Buy rating and upgraded its rating on JetBlue (JBLU) to Neutral from Sell. Goldman kept Buy ratings on Delta (DAL) and United Continental (UAL). PRICE ACTION: In mid-morning trading, American Airlines rose 1.25% to $37, JetBlue added 0.6% to $8.80, Delta gained 2% to $35.30, and United Continental lost 0.5% to $44.65.
10:00 EDTAALOn The Fly: Analyst Initiation Summary
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07:31 EDTFWLTFoster Wheeler, Eni SpA renew frame agreement
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07:31 EDTFWLTFoster Wheeler receives contract for two pulverized coal steam generators
Foster Wheeler AG announced that a subsidiary of its Global Power Group has been awarded a contract by Marubeni Corporation for the design and supply of two pulverized coal arch fired steam generators to be installed at the Thai Binh Thermal Power Station for Vietnam Electricity. The project is located in Thai Binh Province in Vietnam. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the companyís bookings for the first-quarter of 2014. Commercial operation of unit 1 is scheduled for October 2017 and unit 2 is scheduled for April 2018. Foster Wheeler will design and supply two 300 MWe steam generators and auxiliary equipment for the boiler islands. The boilers will be designed to burn local Vietnamese anthracite coal while meeting applicable environmental requirements.
07:24 EDTCVSCVS Caremark price target raised to $84-$89 from $75-$80 at Wells Fargo
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07:09 EDTAALAirline quality study shows customer complaint improvement, Reuters says
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06:39 EDTHPQTwo HP executives arrested in Pakistan, WSJ reports
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06:14 EDTAALAirlines sector upgraded to Attractive from Neutral at Goldman
Goldman upgraded the Airlines sector to Attractive from Neutral based on a more bullish views on the cycle and improving demand. The analyst believes consensus estimates underestimate pricing, which will boost multiples. As part of the sector change, the firm initiated American Airlines (AAL) with a Buy rating and upgraded JetBlue (JBLU) to Neutral from Sell.
06:09 EDTAALAmerican Airlines initiated with a Buy at Goldman
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April 5, 2014
11:24 EDTHPQHP could rise 20%, Barron's says
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April 2, 2014
11:37 EDTHPQStocks with call strike movement; HPQ GM
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08:41 EDTBLOX, HPQPacific Crest to hold a forum
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05:59 EDTHPQHP implied volatility of 25 at lower end of index mean range
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